PPP Loan Data — JAH Financial Service, Portland, CT
JAH Financial Service is a limited liability company (LLC) located at 7 Freestone Avenue in Portland, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
JAH Financial Service in Portland, CT received a Paycheck Protection Loan of $25,000 through Quontic Bank, which was approved in June, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, JAH Financial Service's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, JAH Financial Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - JAH Financial Service in Portland, CT
7 Freestone Avenue
Portland, CT 6480
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Portland
In the Portland area, 5 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $15,463 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Booksmart Bookkeeping And Consulting Ll
Booksmart Bookkeeping And Consulting LLC
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, 50% higher than JAH Financial Service's reported 2 employees, and received an average PPP loan of $31,571, 26% higher than this company's loan of $25,000.
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